Energy Aspects offers high-frequency research coverage of the global natural gas markets, led by Trevor Sikorski. We publish a comprehensive suite of reports combining data analysis, market fundamentals and forward-looking commentary. Our experienced analysts provide the information and insight you need to stay ahead of the global natural gas markets.
Energy Aspects expects tomorrow’s EIA storage number to be a 70 bcf injection. Our initial forecasts for the next three EIA storage weeks are injections of: 69 bcf, 87 bcf and 80 bcf. Forecasts are showing warmer than normal temperatures concentrated in the western portion of the country in th..
Indian LNG imports remained strong last month, hitting 1.65 Mt (2.18 bcm) in April, which is up 2% y/y on an already-high April 2016 base and just a touch below September 2016’s record-high of 1.74 Mt (2.30 bcm). LNG prices for April delivery at 5.30 $/mmbtu were marginally higher than prices in..
Chinese LNG demand remained strong in April, with imports rising by 0.28 Mt y/y to 2.17 Mt, which is 15% higher y/y. The growth was driven primarily by stronger imports from Qatar and Malaysia, as Australian volumes unexpectedly fell y/y, for the first time since May 2015, by 6% to 1.0 Mt. Given..
In this Insight, we evaluate the Q1 17 results for a sample of US and Canadian producers. We have broadened our sample size to include an additional 23 US producers and 23 Canadian upstream firms. In Canada, our new sample covers over 8 bcf/d of production, while in the US, the 39 firms we analys..
Another month of strong pipeline and LNG imports into Mexico in March helped offset slowing domestic production, as aggregate demand edged up by 2% y/y to 7.56 bcf/d. LNG imports posted a 23% y/y increase to 0.45 bcf/d in March, but while pipeline supply increased its share of the total supply m..
Japanese LNG imports rose by 3% (0.19 Mt) y/y to 6.57 Mt in April, with colder weather than last year aiding the increase. Japan experienced 12% more HDDs y/y, though some of the rise was due to base effects, as April 2016 was especially warm. Lagged data show Japanese gas demand reached 8.6 Mt i..
Next week's edition of Panorama will be published on Tuesday 2nd May, owing to the UK bank holiday. NBP and continental prompt prices drifted lower last week as rising temperatures cut residential and commercial demand sharply y/y, while M+1 contracts firmed with rising coal prices. NBP D+1 pric..
Norwegian gas output was stronger y/y in April, as colder weather across much of Europe supported demand and a lighter planned maintenance schedule compared with April 2016, eased constraints. Aggregate Norwegian output totalled 10.63 bcm in April according to the Norwegian Petroleum Directorate..
Despite a warm April, when residential and commercial demand ebbed, Henry Hub prices remained supported as US dry gas production continued to underwhelm. Production readings largely came in around 70-71 bcf/d with a bias to the bottom of that range—only in the first half of May has there been a..
Prices in the Northeast also edged higher over the week. The Algonquin Citygate price reached 4.1 $/mmbtu on 15 May ahead of routine shoulder-season maintenance on the Algonquin Gas Transmission Mainline over the next fortnight. The maintenance is cutting flows on the pipe by around 60% relative..
Stronger LNG imports and lower power sector demand than last year helped South Korea make a net stockbuild in April. LNG imports were up y/y by 0.16 Mt at 2.34 Mt last month, leading to a net stock-build of 0.21 Mt and taking implied LNG stocks to roughly 2.16 Mt. While imports where higher compa..
Net exports from Canada to the US averaged 5.32 bcf/d in April, which is lower by 0.73 bcf/d y/y. The slowdown came as Canadian gas demand increased by around 4% y/y. Strong gas demand in the west more than offset a decline in eastern Canada. In May, Canadian gas demand should again be higher y/y..
European gas demand was mixed in April, as temperatures were regionally varied. In the UK, the first half of April was milder-than-normal, while the second half was colder. This led to a mild net reduction in gas demand over the month. In France, warmer-than-average temperatures persisted through..
NBP and TTF near-curve contracts fell w/w by a chunky 3.6% and 2.5% last week, as rising temperatures lowered demand towards the end of the week. Slower Norwegian and Russian supply provided modest support, but forecasts for unseasonably warm weather ahead reined in the extent of the losses. Euro..
European storage levels remain lower y/y with a cold end to April slowing injections as the heating season had one last hurrah. That cold has extended to the first week of May, and has widened the y/y storage gap back out to almost 8 bcm. This leaves the European market with some work to do—in t..